6 Things You May Not Know About Buying Luxury Real Estate

The gorgeous, serene homes on the Lake Oconee real estate scene are second to none and have attracted those looking to relocate to Georgia. This community features stunning lake-side properties in a peaceful neighborhood where you and your family can start your next chapter in style and comfort.

Whether you wheel and deal in real estate or are upgrading your primary residence, you should be especially prudent when purchasing real estate that falls within a higher price range. From the amenities to the neighborhood, there are ways to ensure your investment maintains its value. Purchasing Lake Oconee real estate will put you in a highly coveted community where your most challenging decisions will be whether you want the lap pool or the wrap-around porch.

Along your quest for your dream home, you need the patience to keep searching for the perfect property and stay focused on your goals. Luxury real estate can sit on the market longer due to the high price point, and no one should rush into such a significant purchase.

Taking your time is essential; while you may worry that the seemingly perfect property might get snatched up before you can schedule a tour, remember that the next one you find could be even better. Plus, once you are under contract, you will still need the patience to jump through the hoops to obtain financing, undergo the necessary inspections, and get a clear title.

Research the process of purchasing real estate and understand that there are certain pitfalls to avoid, even if it means walking away from a home you love. Title insurance is well worth the expense so that you can ensure you are acquiring the property unencumbered. Most people use financing to acquire real estate, and lenders often require an inspection, appraisal, and title insurance. While making the purchase in cash could allow you to bypass some of these steps, depending on your agreed-upon contract, you should take every precaution to protect your Lake Oconee property.

Of course, determining your new locale is mainly dependent on work and family. However, the neighborhood you choose can dictate your property's value when it comes time to sell. While it is essential to factor in your daily commute, you should analyze every aspect of the communities you consider. From researching the home’s value to walking around the neighborhood yourself, there are many ways to investigate a prospective community. Once you are confident that your property will appreciate in value based on historical and recent trends, make your move and be confident with your investment.

Whether the property will be your primary residence or your new vacation spot, each has its own set of challenges. For those living in the property all year, maintenance will be more streamlined, as you can monitor the home and act swiftly should a problem occur.

For those who purchase a second home, proper maintenance and upkeep are still incredibly important, and you will need to ensure someone is checking on the house regularly so that the property does not fall into disrepair. It is also essential to understand the dues and services involved with your homeowner's association so that you can continue the necessary upkeep or hire a professional for the task. Maintaining a property is a significant amount of work, and you want to stay well ahead of any issues that may arise down the line.

While virtual tours and high-resolution photographs may give you a sense of the space, you should consider visiting the property in person to gain a true understanding of all that the home has to offer. While the lighting and staging on the listing may have suggested opulence, the home might actually be poorly lit or priced too high. Some people use trusted surrogates to check out properties on their behalf, while others make the trip themselves.

If you are out of state and have the time and resources to visit homes in person, you should make an effort to attend a private tour. Although an inspection will reveal any serious issues, such as structural damage, you still want to ensure that you get an up-close-and-personal look at the property to avoid being blindsided once you have the keys to the home. Whether you plan on living there year-round or utilizing the property as a vacation home, touring it in person is the best way to guarantee that the home will fit your family’s needs.

When it comes to luxury Lake Oconee real estate, you can find an array of amazing home features, from at-home movie theaters to state-of-the-art gyms. You will want to ask yourself which conveniences you will use the most so that you can find a property that most closely aligns with your desired lifestyle.

Conversely, if you have hopes for extra features, like a sauna or mother-in-law suite, you will want to ensure that the property can accommodate your plans before signing a contract. A homeowners association brings some level of convenience, but it may also come with headaches. You will want to review the covenants, conditions, and restrictions in place with the association to ensure your renovations won’t ruffle any feathers within the community.

Last but not least, you should hire a seasoned agent to guide you through the process of buying luxury real estate. An agent can ensure your transaction is on track while keeping you well-informed throughout the transaction. Your local agent understands the value of property in the current market and can advise you on making savvy purchasing decisions that will benefit you long-term. Any real estate purchase is a huge undertaking, so you should surround yourself with industry professionals and experts.

As an award-winning Realtor®, Riezl Baker is well-versed in the real estate industry and has been a resident of Lake Oconee for over 20 years. She has the experience and know-how to get you to the closing table on time. Contact Riezl today to find your lakefront Lake Oconee property and enjoy the good life.

_{*Header photo courtesy of Riezl Baker}